CIC Introduces Trade Data And Business Services To Drive Digital Transformation Of Singapore SMEs

Commodities Intelligence Centre (CIC) today announced a launch of the international version of its web-based business intelligence suite, CIC Data Pro, and Leads Generation Service. CIC will offer the new packages in partnership with the Singapore Business Federation (SBF) to eligible members under the Rising in Support of Enterprises (RISE) Programme. The SBF RISE Programme aims to help Singapore businesses, particularly small- and medium-sized enterprises (SMEs), tide over the challenges following COVID-19, push on with digital transformation efforts and emerge stronger.

CIC Data Pro leverages big data analytics to drive insights from a collection of 1.5 billion records of customs and trade data in a broad range of industry verticals, from manufacturing, import-export, wholesale and logistics to financial services. The data will enable businesses to uncover new market opportunities and identify reliable partners and suppliers from more than 90 countries across Asia, Europe and the Americas. It will provide customised market insights into the trading activities of global companies, and information on counterparties, production specifications and past shipment details.

CIC Data Pro is currently available on the CIC platform, and is part of the suite of solutions offered by CIC to help companies reduce transaction costs, optimise the efficiency of their supply chains across cross-border trading, financing, logistics, compliance and risk management, achieving greater trading synergies globally. More than 40 companies, including global leading supply chain financial company, Linklogis and renowned enterprises have subscribed to take advantage of CIC Data Pro's data services.

Mr Peter Yu, Chief Executive Officer of CIC, said, "Every industry has been impacted by the global spread of Covid-19. Businesses around the world are facing greater risks and challenges with the disruption of production and supply chains coupled with increased uncertainties of customer demand. CIC Data Pro and Lead Generation Service will enable companies to diversify their revenue sources and extend the global reach of their supply chains, building business resilience against the pandemic."

In an effort to double support for Singapore's business community in the covid-19 aftermath, CIC will also on-board GeTS CALISTA Finance with a US$20 million (S$27.8 million) fund for B2B trade finance. This fund will enable businesses and SMEs of the option to use CALISTA Finance to address short-term liquidity challenges, and to fulfil trade financing needs seamlessly, securely, and smartly.

CIC is a joint venture by Singapore digital bank hopeful ZALL Smart Commerce Group, Global eTrade Services (GeTS) and Singapore Exchange (SGX). As Singapore's first physical commodity B2B e-trading platform powered by blockchain, CIC looks to build trade connectivity through digital marketplaces and create a vibrant trading ecosystem in Singapore and beyond. Since launching in October 2018, CIC has achieved a gross merchandise volume of US$12.7 billion (S$17.7 billion), with over 5,000 registered users from Singapore, Malaysia, Indonesia, India and China, among other countries in Asia.

SBF RISE Programme details: https://www.sbf.org.sg/activities/sbf-rise-programme
GeTS CALISTA Finance details: https://globaletrade.services/calistatm-finance
Commodities Intelligence Centre (CIC): https://www.cic-tp.com/en/home

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